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EDF Ventures

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TheFunded.com or a Member has either been threatened with legal action or had legal action taken by the following organization(s). An organization can be removed by this list by having their external counsel submit on letteread that the firm is not engaged in legal action against any portfolio CEO or TheFunded.com.

Firm Rating:

Rated 1.7 / 5.0 by 6

TrackRecord

1.3

OperatingCompetence

1.4

PitchingEfficiency

1.8

FavorableDeal Terms

2.0

ExecutionAssistance

2.0

Firm Homepage:

FIRM OVERVIEW: Small Private VC founded in 1987 based out of Ann Arbor, United States (US Central)

Posted by
MrPortfolio
on 2008-08-22

PUBLIC:

Wow! As EDF Ventures moves forward with a suit against an anonymous poster on thefunded, more and more information comes to light about how dumb this firm is. It's incredible!

The head of the firm, Mary Campbell, actually admits that she never heard of thefunded until recently, yet she heads the Michigan branch of the NVCA. Does she live under a rock" Then, she justifies the suit along with her genius cohorts by saying that it is "patently untrue" because EDF has never worked with a CEO more than once! Outside the fact that this is a damming and dumb admission, it may not be relevant, since I thought lawyers and limited partners could be members of thefunded... Hey, maybe it's your biggest dealflow source that levied some criticism... Maybe a limited" Ooops.

It gets even dumber, because Mary Campbell has said that the expensive and high profile litigation to protect their image (which completely backfired) is a "low priority" for the firm. Umm, usually when things go this wrong, they become a high priority. If all this were not enough, the media is publishing their deal terms, which has got to be embarrassing to portfolio companies. I can't wait to see the stories about why the various "good partners" left.

So, let me get this straight about EDF. They are suing a dealflow source because they have never worked with an entrepreneur more than once in a low priority case to defend their image that has massively backfired, causing more and more dirt on the firm to be dug up and embarrassing their portfolio... Dumb or dumber" You decide.

Xtera Communications, Inc. (formerly Bandwidth Communications) is headquartered in Texas. The company develops technologies for long-haul fiber optic communications systems. In late 2007, this company brought in approximately $52 MM in a later stage series B round.

Biosurface Engineering Technologies, Inc. (also known as BioSET) is a provider of surface modification solutions for the medical industry. The company is headquartered in Maryland. The company had a Series C round in mid 2006.

I have had the opportunity to work with Mike DeVries as both an investor in a Series B financing and as a BOD member in medical device investments. I have found him to be an excellent partner to the founders and CEO. He understands, as a former entrepreneur, the important role of management and team and works diligently to keep the players focused on creating value.

The entire process from pitch to funding to BOD interactions has been straightforward with no "surprises". He is an honest, thoughtful and wise counsel when requested, otherwise, he leaves the management team to run the company. I would highly recommend EDF and especially Mike for an early stage medical device Investment, They will be with you from your garage to full scale manufacturing and hang in there when the inevitable hickup's come along.

Posted by
frankfawzi
on 2008-03-29

PUBLIC:

I have been working with them for two years as a chairman of the board and more recently as a CEO. Initially with Beau Lasky and then with Mary Campbell. I have been across the table from them and on the same side during that time. In all cases, I found them to be very ethical, no nonesense and very supportive in tough times. I have had my share of dealings with VCs and boards and I would grade EDF as A+ for standing by the company and the founders during a tough transition period.